In a bid to strengthen maritime cooperation ties, India plans to build 24 cargo ships for Russia in the next three years. A deal regarding the same is expected to be formalised on 9 November in Astrakhan, Russia, the head of the Caspian International Integration Club ‘North-South’ said.
This agreement aims to enhance maritime trade via the Caspian Sea, the world's largest inland body of water. The signing of this deal is a testament to India’s shipbuilding capabilities and the country’s commitment to strengthen ties with Russia.
The construction of the first four ships will commence in the 1st quarter of 2024 at a shipyard in Goa, India. Three kinds of ships, including chemical tankers, container ships, and bulk carriers, will be built. All 24 cargo ships will be handed over to Moscow by 2027.
The India-Russia agreement is an important milestone that could lead to the growth of new trade centres in the East.
Source: Marine Insight